Charlty reglstratlon number 1172148 NASSINGTON PRE4CHOOL CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
NASSINGTON PRE-SCHOOL CIO LEGAL AND ADMINISTRATIVE INFORMATION TrustO88 L John D Burrows D Mortimer D Wells C Wells S Lange E Davldson (Appolnled 4 March 2024) (Appointed 6 November 20231 Charlty number 1172148 Prlnclpal addre88 The Playlng Flelds Foth8rlngh8y Road Nasslngion P8lerborough PE8 6QU Indapendent examlnor K M H111I8rd ACA FCCA CTA 36 Tyndall Court Lynchwood Peterborough Cambrldg8shlre PE2 6LR
NASSINGTON PRE4CHOOL CIO CONTENTS Page Tru5tees' r8POrt Independenl examlnerfs report Statemont of flnanc181 actlvltles Balance sheet Note8 to the flnanclal statements 6-12
NASSINGTON PRE4CHOOL CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present thelr annual report and financial statements for th8 ygar ended 31 August 2024. The flnanclal statemonls have been prepared In a¢cord8nce wllh th8 accounllng pollcles set out In no18 1 to tho rinancial statements and comply with the charity's governlng docum8nt, the Charflles Act 2011 and 'Ac¢ountlng and Reportlng by Charitles.. Statement of Recommended Practice appllcable to charitles preparlng Ihelr accounts In accordance wllh the Flnanclal ReportSng Standard appllcable In the UK and Republlc of Ireland (FRS 102). (effectlve 1 January 2019). ObJe¢tlve$ and aetlvltl•8 The ¢h8rity's objecls are the development 8nd 8duc8Uon of chlldren and young people In partlcul8r by: 1. Promollng Ihelr care and safety.. 2. Promotlng thelr 8duc8llon and promoting parental Involvement,, 3. Promoting Ihelr health and wellb8lng', 4. Provldlng servlces to support th8m and thelr famllles and car8rs', 5. Provldlng servlces lo Indlvlduals holdlng membershlp of the CIO,. 6. Furtherlng th6 alms of the pre-school alllance. The Iruslees have pald due regard to 9uldance Issued by the Charlty Commisslon Sn decldlng what activities the charity should undertake. Achlevemonts and perfomian¢o After a challenglng few years slnce COVID, Na88lngton Pre-school Is feellng the recovery we've bean worklng towards. ThlB is thanks to the local communlty, past and present famllles, our Iruslees and not least our Committed staff. Our fundraislng has been quite successful thls year - through Inlllallv88 such as Give As You Llve, a sponsored Tru51e8 blke rlde, and other events. We wlll, through our Trustegs, famllles, Blaff and the local communlty, contlnue lo bulld on Ihl8. Thls18 8 81gnlflcant achlev8menl for us. as we've emerged from the sp&clflc pressures of the lasl few years.. It helps consolldale our valued poslllon In the local communlly. 8ut the pressures on the Eady Years sector have conllnued. As wllh prevlous years. the cost of Ilving Issues and reslrfcted fundlng remaln. Thls comlng year wlll brlng further chall8nges as funded two-year olcl places take effect. As Trustees we are hopeful that our fundralslng efforts and Communlty presence wlll help mltlgate thls- although we do not under8Stimate the nature of the challenge and vulnerablllly we face as 8n Early Years settlng. We have had some success In temis of recrultment- wlth 8 naw 81aff member startlng from September 2024. Agaln, we are hopeful Ihls Is somethlng we can bulld on. Financlal pressures remaln. We h8ve revlewed and Increased our fees, followlng a number of years of no Increase. As a Trustee group our intentlon Is to revlew fees annually, and Gontlnue lo communlc8le wlth parentslcarers on our rationale and financial situation. Al the same tim8 we are Committed to valuing our st8ff, and ensuring they are r8munerated a8 falrly as we can. within our wider financial sltuation. Thi5 is afways 8 fine ba18ncing act. As I said last year, we have, in Nassington Pre-school an amazing facility of which we are rightly proud. We want to contlnue lo develop and ensure what we do enables chlldren lo leam and grow In the best possible envlronment. Flnanclal rèvlow The Statement of Flnancial Activities reported nel income ov8r expenditure of £3,755, The res8rves of the charity as at 31 August 2024 were £228,907 of whlch £78.907 were unrestricted funds.
NASSINGTON PRE-SCHOOL CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The Irustees have assessed the m8lor risks to whlch the charity is exposed, and are satisfied that systems are In place to mitigat8 exposure to the major risks. Structurei govornance and managam•nt The charity is a charitable Incorporated organlsatlon reglstered with the Charity Commisslon on 20 March 2017. The Irustees who Served durfng the year and up to the dale of slgnature oftha flnanclal stateménts were.. L John D Burrows A Shaw D Mortlmer R Park D Wells C Well8 S Lange E Davldson (Reslgned 8 November 2023) (Re8lgned 4 March 2024) (Appoln18d 4 March 2024) (AppoSnted 6 Novembgr 2023) New trustees are appolnted as requlred and recelve a comprehenslve Inductlon on the actlvltles of the charfty. The trustees, report was approved by the Board of Trustees. ortlmer Truste0 Date: .,2.3e)l. LF
NASSINGTON PRE-SCHOOL CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NASSINGTON PRE4CHOOL CIO I report to the trustees on my 8xamlnatlon of th8 financial stalemgnls of Nassington Pre-school CIO (the charity) for the year ended 31 August 2024. Responslbllltle8 and ba818 of report As the truste88 of the charity you 8re responsible for the preparation of the financial statements In accordance with the requirements of the Ch8rilies Act 2011 (the 2011 Act). I report In respect ol my examlnation of the charity's financlal statements carried out under sectlon 145 01 the 2011 Act. In carrylng out my examlnatlon I have followed all the appllcablo Dlrectlons glv8n by tho Charlty Commlsslon under section 145(5){b) of the 2011 Act. Independent examlner's 8tatgment Your allenllon Is drawn lo the fact that the ch8rlty has prepared flnanclal slalemenls In accordance wllh Accounllng and Reportlng by Charllles preparlng thelr accounts In accordance wllh th8 Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland {FRS 1021 In preference lo the Accountlng and Reportlng by Charilles: S181ement of Recommended Pr8Ctlce Issued on 1 Aprll 2005 whlch Is referred to In the extant regu1811ons bul has now been wllhdrawn. l understand that thls has b8en done In order for financlal slalements to provlde a true and falr vlew In accordance with GenerallyAccepled Accountlng Practlce effecllve for reportlng perlods beglnnlng on or after 1 January 2015. I hava completed my examlnallon. I conflrm that no matters have come to my attentlon In connectlon with the examlnalion glvlng me cause lo b&lleve that In any rnaterlal spect.. accounllng records were not kept In respect of the charlty as requlred by sectlon 130 of the 2011 Acl,, or tha financl81 slalemenls do not accord with those records., or the flnanclal statements do not comply wlth the 8ppllcabl8 requlremenls concemlng the lomi and conlenl of accounts sèt out In the Charllles (Accounts and Reports) Regulallons 2008 other than any requlrement that the accounts glve a true and falr vlew whl¢h Is not a matter consldered as part of an Ind8pandent examln8110n. I have no concerns and have come across no other matters In connection with th8 examlnatlon to whlch attentlon should be drawn in Ihls report In order to enable a proper underslandlng of the financ181 slalements to be reached. K M Hllllard ACA FCCA CTA Prlce Balloy LLP 36 Tyndall Court Lynchwood Pelerborough Cambrldgeshlre PE2 6LR Dated..
NASSINGTON PRE-SCHOOL CIO STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unro8trlct•d R08trlcted funds funds 2024 2024 Total Unre8trlcted Restrlcted fund8 fund3 2023 2023 Total 2024 2023 Noto8 mef Charltabl8 actlvllle8 Investments 100,428 538 100,428 536 93,781 182 93,781 182 Total Income 100,964 100,964 93,963 93.963 and r80 Charltable actlvltle8 97,209 97,209 109.866 109,666 Net Incomel(•xpendltur•) for the yoarl Not movamont In fund8 3,755 3,755 (15,703) (15,703) Fund balances at 1 September 2023 75,152 150,000 225,152 90,856 150,000 240.855 Fund balanc•• at 31 August 2024 78,907 150,000 228,907 75,152 150,000 225,152 The statement of flnanclal actlvltles Includes all galn8 and10s$es recognlsed In the year. All Income and expendllure darlva from contlnulng actlvltle8,
NASSINGTON PRE-SCHOOL CIO BALANCE SHEET ASAT31AUGUST2024 2024 Notes 2023 Fixed assets Tangible ass81s 10 173,098 174,551 Current assets Debtors Cash at bank and In hand 11 1,072 55,396 2,577 49,605 Credltor8: amount8 falllng due wlthln one year 56,468 52,182 12 (669) (1,5811 Nel current assets 55,809 50.601 Total a8$ets1088 current Ilabllltlo8 228,907 225.152 Incomo lunds Reslricted funds Unrestrlcled funds 13 150,000 78.907 150,000 75,152 228,907 225,152 The financlal slalements were approved by th8 Trustees on . Dyortimer Trustee
NASSINGTON PRE4CHOOL CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcles Charfty Informatlon Nassinglon Pre-school CIO Is a Charitable Incorporated Organisatlon reglstered on 20 March 2017. The charity registration number is 1172148. 1.1 Accountlng convantlon The flnanclal stalements have been prepared In accordance wlth tha ch8rlVs Igovemlng document], the Ch8rltles Act 2011, FRS 102 'The Flnanclal Reporting Standard applic8ble In the UK and Republic of Ireland. ('FRS 102.) and the Charities SORP 'Ac¢ounting and Reporting by Charitles.. Statement of Recommended Practice applicable lo charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" (effective 1 January 2019). The charity18 a Public Benefit Entity as defined by FRS 102. The chadty has taken advantage of the provlslons In th8 SORP for charltles not to prepare a Statement of Cash Flows, The flnanclal statemenls have departed from the Charltles (Accounts and Report8) Regulatlons 2008 only to the extent requlr8d to provlde a true and falr vlew. Thls departure has Involved followlng the Statement of Recomm8nded Practlce for chadtl88 applylng FRS 102 rather than the verslon of the Sl8lament of Recommended Practlce whlch Is referred lo In the Regulallons but whlch has slnce been wlthdrawn. The flnanclal statements are prepared In Bterllng. whlch Is the funcllonal currency of the charity. Monetary amounts In theBe financlal statementB are rounded to the near88t £. Th8 flnanclal statements hav8 bean preparad und8r the hlstorfcal cost conventlon. The prlnclpal accountlng pollcles adopted are sel out below. 1.2 Golng concern At the tlme of approving the financlal statements, the trustees have a reasonable expectatlon that the Charity has adequata resources to conllnu8 In operatlonal ex151en¢8 for the foreseeable future. Thus the trustees contlnue to adopt the golng concem basls of accountlng In prep8dng the flnanclal statements. 1.3 Charltabl• funds Unrestricted funds are avallable for use at the dlscretion of Ihg trustees in furtherance of their charltable oblecllves. 1.4 Incomo Income Is recognlsed when the charfty Is legally entitled to It after any performance condltlons have been met, the amounts can be measured rellably, and It Is probable that Income wlll b8 recelved. 1.5 Expendlture Expenditure is accounled for on an accruals b8813. 1.6 Tanglble flxod as50ts Tangible fixed a$sels are Inltlelly measured at cost and subsequently measured at cost or valuatlon, net of depreciation and any impalrment losses. Depreciation is recognlsed so a5 to write off tha cost or valuallon of assets less thelr 51dual values over their useful lives on th8 following bases.. Freehold land and bulldings Fixtures and fitting5 Computers 1 Yo per annum of buildings cost 3 or 4 year straight line 250/0 reducing balance
NASSINGTON PRE4CHOOL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollclo8 (Contlnued) The galn or loss art8lng on the dlsposal of an ass81 Is d8termln8d as the diff8rence beiween the Sale proceeds and the carrylng value of the asset, and is recognlsed in the statement of financial a¢tivitie3. 1.7 Impalmient of flxed assets At 6ach reportlng end dale. the charlty revlews th8 carrylng amounts of Its t8nglble assets lo del8rmlne whether there Is any Indlcatlon that those assets have suffered an Impalrmenl loss. If any such Indlcatlon exlsls, the recoverabl8 amount of the asset Is estlmaled In order lo determlne tha extent of the Impalrmenl loss (If any). 1.8 Cash and cash equlvalonts Cash and cash equlvalents Include cash In hand, deposlts held at call wlth banks, other short-temi Ilquld Investments with original malur*tles of Ihrae months or les8, and bank overdrafts. 88nk overdrefts are shown wlthln borrowlngs In current Ilabllltl65. 1.9 Flnanclal In8trumant8 Th8 charity has elected to apply the provlslons of S8Ctlon 11 'Baslc Flnanclal Inslrument8' and Secllon 12 'Olher Flnancl81 Instruments155ues' of FRS 102 to all of Its finan¢l81 Instruments. Flnanclal Instruments are recognlsed In the charlly's balance sheet when the charlty b8come8 paty to the contractual provlslons of the Instrument. Flnanclal 8SS818 and Ilablllll6s are offset, wllh the nel amounts prasenled In the flnanclal statements, when there Is a legally enforceab18 rfghl lo sél off the recognlsed amounts and Ihere Is an Inlenllon lo settl8 on a net basls or to reallse tha asset and settle the Ilablllty slmullaneously. Baslc Ilnanclal a8Jets Baslc financS81 assets, whlch Include debtors and cash 8nd bank balances, are Inltlally measured at transaction pc6 Includlng Iransacllon costs and are subsequently carrfed al amortlsed cost uslng the effecllve Interest method unless the arrangement conslllu18S 8 flnanclng transacllon, where the transacllon Is measured at the present value of the future recelpls dlsmunted at a market rat& of Int8r881. Flnanclal assets cl85slfl8d as recelvable wllhln one year are not amortlsed, Baslc Ilnanclal Ilabllltlg$ Baslc flnanclal Ilabllllles, Includlng cradllors and bank loans are Inlllally recognlsed al transactlon prlce unless the arrangament constltutes a flnanclng transactlon, where the debt Instrument Is measur8d at the present value of the future payments dls¢ounl8d at a market rale of Interest. Flnancl81118bllltles classlfled as payable wilhln one year are not amortlsed. Debl Instruments are subsequently carrled at amortlsed co81, uslng the 8ffectlve Interest rale method. Trade credllors are obllgatlons to pay for goods or s8rvlces that have been acqulred In the ordlnary course of operatlons from suppllers. Amounts payable are ¢las8thed as current liabllllSes if payment Is due withln one year or less. If not. they are presented as non-current Ilabllllles. Trade creditors are r8cognlsed Inlllally at transactlon pric8 and subsequently measured at amort15ed cost using the effecllve Interest method. Derecognltlon of Ilnanclal Ilabllltles Financlal liabllities are derecognlsed when the charity's contractual obllgatlons explre or are dlscharged or cancelled.
NASSINGTON PRE4CHOOL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounllng pollcles (Contlnued) 1.10 Employee benoflts The cost of any unused hollday entitlement Is recognls8d In the perlod In whlch the employee's servlces are recelved. Terrnlnatlon benefits are recognlsed Imm8dlately 88 an expense when Ihe charlty Is demonstrably commltted to termlnale the employment of an employee or to provlde termlnatlon benefits. 1.11 Retlromont b•neflt8 Paymenls to defined contrfbutlon retlremenl benefit schemes are charged as an expense as Ihey fall du8. Crltlcal accountlng oJtlmat08 and Judg•ments In the appllcatlon of the ch8rlty'S accountlng pollcles, th8 trustees ara requlrad to make judgements, estlmates and assumpllon8 about th8 carrylng amount of assets and Ilabllllles that are not raadlly apparent from other sources. The estlmates and assoclated assumptions ar8 based on hlstorlcal experlence and other factors that are consldered to be relevant. Actual results may dlffer from these estSmal8S. The estlmates and undedylng assumptlons are revlewed on an ongolng basls. Revlslons to accounting estlmates are recognl$8d In tha perlod In whlch the estlmate Is rev15ed where the r8vlslon affects only that perlod, or In the period of the revlslon and future perlods where the r8vlslon affects both curfenl and future perlods, Charltable actlvltles 2024 2023 Nursery fees Nursery grants 33,927 66,501 45,997 47.784 100,428 93,781 Inv08tment8 Unrastrlcted Unre•trlctad fund$ funds 2024 2023 Interest recelvable 536 182
NASSINGTON PRE-SCHOOL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Charltable actlvltl81 2024 2023 Staff costs Depreciallon and Impalrment Preschool con8umablg8 Staff tralnlng Subscrlptlons Staff unlform Repalrs and malntenance Advertlslng 80,943 1,453 2,145 454 733 89,291 1,570 3,098 78 588 290 4,412 2,055 11 87,794 99,611 Shar8 of support costs (see note 81 Sh8re of governance costs (see note 6) 7,618 1,797 8,651 1,404 97,209 109.666 Support costs Support Governanco ¢osts costs 2024 Support Govornanc• CO8t8 Coat8 2023 Insur8nce Admln expenses Llght and h8at Phone and Intemel Cleanlng Computer wnnlng cost8 1,680 133 2,105 1,743 667 1.290 1.680 133 2.105 1,743 667 1,290 1,394 244 3.434 1,478 1,576 525 1,394 244 3,434 1,478 1,576 525 Legal and professlonal Flnance adminislratlon 1,797 1,797 777 627 777 627 7,618 1,797 9.415 8,651 1.404 10,055 Analysed between Charitable aclivltles 7,618 1.797 9,415 8,651 1,404 10,055 Govemance costs includes payments to the Independ8nl examiners of £780 (2023 - £479) for independent 8xaminalion fees.
NASSINGTON PRE4CHOOL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Truste•$ Durfng the year. L John, a trustee of the charlty, recelved a remuneratlon of £38,289 (2023 - £36,411) for her role as the prtrschool manager and employer penslon contrlbutlons of £962 {2023 - £622) for her role as the pre-school manager. Durfng the year, L John, a trustee of tha chadty recelved relmbursem8nt for travel and other expenses totallSng £33 (2023 - £383). Thls was In the course ol carrylng out her employed role at the nursery. Durfng the year. D W8118, a tru81ee of the charlty recelved rolmbursement for travel and olher expenses lotalllng £50 (2023 - £nlll. Thls was In the cour89 of carrylng out a fundr81slng event for tho nursery. Employ00• The average monthly number of employees durlng the y8ar was., 2024 Number 2023 Numb8r Employment cost• 2024 2023 Wages and 88larles Other penslon costs 79,186 1,757 87,695 1,596 80,943 89,291 There were no employee8 whose annual remuneratlon was mora than £60,000. Taxatlon The charity Is exempt from tax on Income and 981ns falllng wlthln sectlon 505 of the Taxes Act 1988 or secllon 252 of the Taxation of Chargeable Galns Act 1992 to the extent that these are applied to 11$ ch8ritable objects. 10-
NASSINGTON PRE-SCHOOL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 10 Tanglblo flxed assets Frnohold land Flxtur•¥ and and bulldlngs flttlng• Comput•r• Total C08t Al 1 September 2023 178,092 4,677 1.084 183,853 Al 31 August 2024 178,092 4,677 1,084 183,853 Depreclatlon and Impalrmont At 1 September 2023 Depreclatlon charged In the year 4.008 1,336 4,677 617 117 9,302 1,453 Al 31 August 2024 5,344 4,677 734 10,755 Carrylng amount At 31 August 2024 172.748 350 173,098 At 31 August 2023 174.084 467 174,551 11 Debtor• 2024 Amounts falllng due wlthln ona year: 2023 Trade debtors Prepaymants and accrued Income 1,254 1,323 1,072 1,072 2,577 12 Crodltor8: amount8 lalllng due wlthln one ygar 2024 2023 Other taxation and soclal securlty Trade creditors Accruals and deferred Income (958) 667 950 454 1.127 659 1.581 11
NASSINGTON PRE4CHOOL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 13 Restrlcted fund8 Tho Income funds of Ihe charlty Include restrlcted funds comprislng th8 followlng unaxpended balances of donations and grants held on trust for speclfiG purposes,. Movement In funds Incomlng Bilan¢• at rèiourc•• I S•pt•mb•r 2023 Movem•nt In funds Incomlng r•sourc•• B•l•nc• it 18•pt•mber 2022 Balanc• 91 31 August 2024 Propety purchase fund 150,000 150,000 150,000 Tha property purchase fund represents £150,000 rec81ved in order to facSlllat8 the purchase of the pre-school premlses. 14 An¥ly818 of net as8Ots between fund8 Unre$trlcted Restrlctod funds funds 2024 2024 Total Unrestrlcted Rostrlctad funds funds 2023 2023 Total 2024 2023 Fund balances at 31 August 2024 are represented by: Tanglble assets Currant ass81s1(Ilabllltles) 173,098 55,809 173,098 55,809 24,551 50,601 150,000 174,551 50,601 228,907 228,907 75,152 150,000 225,152 15 Relatod party Iran8actlons Durlng the academlc year, chlldren of Mio of the trustees of the charlty attended Iha pr&school. Fees were charged to th8 tNStees at nomial ratas.